New/updated does not have to equate to large. Actually, in the MAC and mid-major settings, smaller and more intimate results in a home court advantage. I'd much prefer PCCC to come into a 4,000- 5,000 seat arena where the fans are close and breathing down their necks than into a half empty 10,000 seat arena or a place where the loyal GA fans are far away and separated by a glass rail and a freaking track.
I recall many of the very same anti-arena arguments being made against Canal Park in the mid-90's. I think most would agree it has been a success.
In any event, anything is going to have to come out of state monies. UA doesn't have it. The citizens won't support a tax. As a result, at best we're left to modifications to the JAR. Fortunately, a plain box should be relatively easy to work with. Also, according to Reghi the JAR is "historic and venerable", and we can't abandon a facility that is equal to the Palestra in Reghi's eyes.